SHENZHEN, China, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize” or the “Company”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced that it has received a notification letter (the “Compliance Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market Inc. (“Nasdaq”) dated December 30, 2024, informing the Company that i ...

Now that’s a rally.In what was inarguably the most explosive five trading days of its history, the FinTech IPO Index surged 22.5%, and now stands more than 68% higher year to date.And a key part of the stellar performance can be attributed to a single name.  Huize’s Stunning RallyHuize Holding rocketed ahead by more than 461%, in the wake of earnings. Company materials revealed that gross written premiums reached a quarterly record high of RMB2,060.7 million ($293.6 million) in the third quarter of 2024, co ...

SHENZHEN, China, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced its unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial and Operational Highlights Record high insurance premiums: Gross written premiums (“GWP”) re ...

Core Viewpoint - Huize Holding Limited, a leading insurance technology platform in Asia, is set to release its third quarter 2024 unaudited financial results on December 10, 2024, before the U.S. market opens [1] Group 1: Earnings Conference Call - The management team will conduct an earnings conference call at 7:00 A.M. Eastern Time on December 10, 2024 [2] - Participants must register online in advance to receive dial-in numbers and a unique access PIN for the conference call [2] Group 2: Company Overview - Huize Holding Limited connects consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions [4] - The company targets mass affluent consumers and offers a comprehensive insurance ecosystem covering the entire insurance life cycle [4] - Huize leverages AI, data analytics, and digital capabilities to enhance the insurance service chain, providing solutions for consultation, user engagement, marketing, risk management, and claims service [4]

Core Viewpoint - Huize Holding Limited will change the ratio of its American depositary shares (ADSs) to its Class A ordinary shares from 1:20 to 1:100, effectively implementing a one-for-five reverse ADS split [1][2]. Group 1: ADS Ratio Change - The new ADS Ratio will be effective on or about December 9, 2024, subject to the SEC's approval of the post-effective amendment to the ADS Registration Statement [2]. - Each ADS holder will need to surrender five existing ADSs to receive one new ADS, with automatic exchanges for holders in The Depository Trust Company and the Direct Registration System [3]. - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [3]. Group 2: Company Overview - Huize Holding Limited is a leading insurance technology platform in Asia, connecting consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions [4]. - The company targets mass affluent consumers and offers a comprehensive insurance ecosystem covering the entire insurance life cycle, providing a wide range of products and services [4]. - Huize leverages AI and data analytics to enhance the insurance service chain, focusing on consultation, user engagement, marketing, risk management, and claims service [4].

Core Insights - Huize Holding Limited's long-term medical insurance product "Chang Xiang An No.2" has won the "Annual Popular Commercial Health Insurance Product" award from Today Insurance, highlighting its recognition in the market [1][3]. Product Overview - "Chang Xiang An No.2" is developed in collaboration with Ping An Health Insurance and offers comprehensive healthcare services, including: - Extensive inpatient medical coverage with a maximum claim of up to RMB8 million and guaranteed renewability for 20 years [2]. - Specialized rehabilitation coverage for nine specific conditions, with annual coverage of up to RMB20,000 [2]. - Streamlined application processes with an eligibility age of up to 70 years and family discounts of up to 15% [2]. - A diminishing deductible benefit that reduces by RMB1,000 annually for claim-free years, down to a minimum of RMB5,000 [2]. - Enhanced value-added services, including hospitalization assistance and unique first-year complimentary services [2]. Company Commitment - The company emphasizes the importance of reliable product upgrades that meet customer needs, seamless claims processing, and a human-centric design [3]. - Recent regulatory adjustments in the insurance sector are seen as a pathway for sustainable growth by integrating insurance with health and wellness services [3]. - The award received is viewed as a testament to the company's innovative capabilities and high standards in the insurance market [3]. Company Profile - Huize Holding Limited is a leading insurance technology platform in Asia, connecting consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions [4]. - The company targets mass affluent consumers and offers a wide spectrum of insurance products and services, covering the entire insurance life cycle [4]. - By leveraging AI and data analytics, Huize enhances the insurance service chain with technology-enabled solutions for various aspects of insurance [4].

Core Viewpoint - Huize Holding Limited will hold its annual general meeting on November 29, 2024, in Hong Kong, serving as a forum for shareholders to discuss company affairs with management, with no proposals for shareholder approval [1][2]. Company Information - Huize Holding Limited is a leading insurance technology platform in Asia, connecting consumers, insurance carriers, and distribution partners through data-driven and AI-powered solutions [4]. - The company targets mass affluent consumers and aims to meet their lifelong insurance needs through an integrated online-to-offline insurance ecosystem [4]. - Huize's services cover the entire insurance life cycle, offering a wide range of products, one-stop services, and a streamlined transaction experience [4]. - The company utilizes AI, data analytics, and digital capabilities to enhance the insurance service chain, providing technology-enabled solutions for consultation, user engagement, marketing, risk management, and claims service [4]. Meeting Details - The record date for the annual general meeting is set for November 4, 2024, entitling holders of common shares to notice of the meeting [3]. - The notice of the annual general meeting is available on the company's Investor Relations website [3].

Huize Holding Limited (NASDAQ:HUIZ) Q2 2024 Earnings Conference Call September 25, 2024 8:00 AM ET Company Participants Kenny Lo - Investor Relations Manager Cunjun Ma - Founder & Chief Executive Officer Ron Tam - Co-Chief Financial Officer Conference Call Participants Michelle Ma - Citi Operator Ladies and gentlemen, thank you for standing by. Welcome to Huize Second Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. After the management's prepared remarks, we wi ...

Core Viewpoint - Huize Holding Limited reported its unaudited financial results for the second quarter of 2024, showcasing resilience in business performance despite a challenging economic environment, with a focus on strategic growth and international expansion [1]. Financial and Operational Highlights - Gross written premiums (GWP) for Q2 2024 were RMB1,336.9 million, a slight decrease of 3.0% from RMB1,377.7 million in Q2 2023. Renewal premiums increased by 42.8% year-over-year to RMB685.4 million [2][4]. - The gross profit margin improved to 31.3%, up by 2.3 percentage points sequentially, attributed to disciplined control over channel expenses and product mix optimization [2]. - The cumulative number of insurance clients served reached 9.8 million, with partnerships established with 125 insurers [3]. Revenue and Profitability - Operating revenue for Q2 2024 was RMB283.0 million, down 23.2% from RMB368.2 million in Q2 2023, primarily due to a decrease in first-year premiums (FYP) [4]. - The net loss for Q2 2024 was RMB23.3 million, compared to a net profit of RMB14.1 million in the same period of 2023. Non-GAAP net loss was RMB13.0 million, down from a non-GAAP net profit of RMB19.0 million [8][22]. Cost Management - Operating costs decreased by 20.2% to RMB194.4 million in Q2 2024, primarily due to reduced channel expenses [5]. - Selling expenses were RMB46.8 million, down 18.3% from RMB57.3 million in Q2 2023, while general and administrative expenses increased by 33.9% to RMB49.7 million [6][7]. Strategic Initiatives - The company maintained a long-term insurance product GWP contribution above 90% for the nineteenth consecutive quarter, indicating a commitment to sustainable growth [3]. - Revenue contribution from international business rose to 11% in Q2 2024, supported by the acquisition of a controlling stake in Global Care, a Vietnam-based Insurtech company [3]. Cash Position - As of June 30, 2024, cash and cash equivalents were RMB236.2 million, a decrease from RMB249.3 million at the end of 2023 [9].

SHENZHEN, China, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced that it has partnered with New China Life Insurance Company Limited (“NCI”) to launch “Bliss No.2”, a customized lifetime annuity product. This upgraded product is the latest addition to the “Bliss” se ...